Sanu Gold Work Program Underway on the Bantabaye Permit in Guinea, West Africa
Sanu Gold Work Program Underway on the
Bantabaye Permit in Guinea, West Africa
Vancouver, British Columbia--(Newsfile Corp. - November 6, 2023) -
Sanu Gold Corporation (CSE:
SANU) (OTCQB: SNGCF)
("Sanu Gold" or the "Company") is pleased to announce commencement of
the next phase of work on the Company's flagship Bantabaye Gold Exploration Permit ("Bantabaye" or
the "Permit") in Guinea, West Africa. The Permit, which lies on the western margin of Guinea's prolific
Siguiri Basin, is located approximately 50 km
[1]
south of the multi-million ounce Lefa Gold Mine and 80
km north of the multi-million ounce Bankan Gold Project.
Martin Pawlitschek, President and CEO of Sanu Gold commented: "Following the closing of our fully
subscribed $3.45M private placement, I am pleased to announce we have begun Sanu Gold's next, fully
funded phase of work at Bantabaye. We are excited to follow-up on the high-grade discovery from our
inaugural drill program, as our team focuses on continuing to drive discovery and demonstrate the
potential of our flagship Project in the number one gold mining region in the world."
Work Program
The next phase of work is underway at Bantabaye and will focus on metallurgical test work and surface
exploration through the remainder of 2023, in preparation for a second phase reverse circulation ("RC")
drill program planned to commence in Q1/2024.
Metallurgical Test Work
Based on the high-grade drill results from the inaugural RC drill program at Target 2 in H1/2023, which
included
11.4 g/t Au
[2]
over 15 m, including 41.2 g/t Au over 4 m
(BANT-RC-002), combined with the
extensive zone of gold mineralization and historic workings outlined in the 700 m long Target 3 to Target
7 area, the Company has commenced initial metallurgical test work. This work includes cyanide leach
bottle roll tests on RC drill chip samples from the main mineralized rock types to provide an initial
indication of potential gold recoveries at Bantabaye.
Geophysical Surveys
The Company is preparing to commence an initial geophysical program later this month, which will
include induced polarization ("IP") and ground magnetometer ("Ground Mag") surveys. Both IP and
Ground Mag have been shown to be effective tools in delineating subsurface geology, structure and
mineralization in areas of laterite cover typical of the region. These types of surveys are proving to be
valuable exploration tools in gold discovery both within Guinea's Siguiri Basin and throughout the region.
Trenching and Channel Sampling
The Company plans to continue its successful program of trenching and channel sampling in the Target 3
to Target 7 area, where initial channel sampling of new exposures created by the construction of drill
roads and pads returned broad intervals of gold mineralization, with 1.1 g/t Au over 43 m, including 4.2
g/t Au over 6 m (BANT-TR-1) and 1.2 g/t Au over 40 m, including 5.4 g/t Au over 4 m (BANT-TR-03) from
Target 7 (see Sanu Gold news releases dated September 6 and 12, 2023).
Geological Mapping and Sampling
The Company continues to conduct mapping and sampling of new and known zones of gold
mineralization exposed by local artisanal workers and the construction of drill roads and pads, to better
delineate the extent of gold mineralization in the northern half of the 99.9 square kilometre Permit. Infill
termite mound sampling in key target areas in Bantabaye North to supplement existing sampling is
underway.
RC Drilling
The Company plans to complete up to 10,000 m of RC drilling in H1/2023, conducted in several phases
commencing with an initial 2,000 to 2,500 m in Q1/2023. Results from the abovementioned surface
exploration and geophysical surveys will be incorporated into the drill plan. Follow up drilling along strike
and below the Target 2 discovery, to delineate the tenor and size of the mineralized zone, is a high
priority for this next phase of drilling.
Qualified Person
The scientific and technical information contained in this press release has been reviewed and approved
by Serigne Dieng, Ph.D., M.Sc., a Member (MAIG) of the Australian Institute of Geoscientists (AIG),
Exploration Manager of the Company and a qualified person within the meaning of National Instrument
43-101 - Standards of Disclosure for Mineral Projects.
About Sanu Gold
Sanu Gold is a publicly traded exploration company focused on a portfolio of highly prospective gold
projects in Guinea, West Africa's Siguiri Basin.
West Africa is the number one gold mining region in the world and Guinea's Siguiri Basin is a prolific, yet
underexplored part of this region. Despite being home to both long-lived multi-million ounce gold mines
and recently commissioned gold mines, Guinea's Siguiri Basin continues to produce important new gold
discoveries.
Sanu Gold has defined multi-kilometer long gold-bearing structures on each of its three exploration
permits and is targeting near-surface multi-million ounce gold discoveries. Initial drill programs on the
first two permits drilled have yielded high-grade gold discoveries. The company is operated by a highly
experienced team, with successful records of discovery, resource development and mine permitting
across West Africa.
Martin Pawlitschek
President & CEO, Sanu Gold Corp.
For further information regarding Sanu Gold, please visit the Company's website at
www.sanugoldcorp.com
or contact:
Fiona Childe, Ph.D. P.Geo.
VP, Corporate Development & Communications
Sanu Gold Corp.
+1 647-473-7268
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts
responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
This news release contains certain statements that may be deemed "forward-looking statements" with
respect to the Company within the meaning of applicable securities laws. Forward-looking statements
are statements that are not historical facts and are generally, but not always, identified by the words
"expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential", "indicates",
"opportunity", "possible" and similar expressions, or that events or conditions "will", "would", "may",
"could" or "should" occur. Although Sanu Gold believes the expectations expressed in such forward-
looking statements are based on reasonable assumptions, such statements are not guarantees of future
performance, are subject to risks and uncertainties, and actual results or realities may differ materially
from those in the forward-looking statements. Such material risks and uncertainties include, but are not
limited to, the Company's plans for exploration on its properties and ability to execute on plans, ability to
raise sufficient capital to fund its obligations under its property agreements going forward, ability to
maintain its material property agreements, mineral tenures and concessions in good standing, to explore
and develop its projects; changes in economic conditions or financial markets; the inherent hazards
associated with mineral exploration and mining operations, future prices of gold and other metals,
changes in general economic conditions and local risks in the jurisdiction (Guinea) in which it operates,
accuracy of mineral resource and reserve estimates, the potential for new discoveries, the ability of the
Company to obtain the necessary permits and consents required to explore, drill and develop the
projects and if obtained, to obtain such permits and consents in a timely fashion relative to the
Company's plans and business objectives for the projects; the general ability of the Company to
monetize its mineral resources; and changes in environmental and other laws or regulations that could
have an impact on the Company's operations, compliance with environmental laws and regulations,
dependence on key management personnel and general competition in the mining industry. Forward-
looking statements are based on the reasonable beliefs, estimates and opinions of the Company's
management on the date the statements are made. Except as required by law, the Company undertakes
no obligation to update these forward-looking statements in the event that management's beliefs,
estimates or opinions, or other factors, should change.
[1]
kilometres ("km").
[2]
grams of gold per tonne ("g/t Au"); metres ("m"); "); see Sanu Gold news releases dated May 17 and
July 27, 2023 for additional information.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/186274